Estados financieros detallados de Webster Financial Corporation (WBS): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Webster Financial Corporation registró ingresos de $4.42B en el último ejercicio fiscal, con un CAGR de 5 años del 28.0%. El beneficio neto alcanzó $1.00B, con un CAGR a 5 años del 35.4%.
Márgenes de los últimos 12 meses: margen bruto 62.5%, margen operativo 26.9%, margen neto 23.3%. El flujo de caja libre creció a un CAGR del 22.9% en 5 años.
Al precio actual de $77.57, WBS cotiza a un P/E de 12.59 y un ROE del 10.66%. La capitalización bursátil es de $12.6B, lo que la sitúa entre las empresas large-cap.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $1.09B | $1.17B | $1.34B | $1.44B | $1.29B | $1.26B | $2.72B | $3.94B | $4.17B | $4.42B |
| Coste de Ventas | $159.8M | $158.2M | $190.5M | $237.3M | $248.4M | -$12.7M | $531.1M | $1.44B | $1.81B | $1.73B |
| Beneficio Bruto | $926.6M | $1.01B | $1.15B | $1.20B | $1.04B | $1.28B | $2.19B | $2.50B | $2.36B | $2.69B |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $47.5M |
| Generales y Administrativos | $371.7M | $399.6M | $433.1M | $429.6M | $460.8M | $433.8M | $687.2M | $781.3M | $840.1M | $749.8M |
| Gastos Operativos | $623.2M | $661.1M | $705.6M | $716.0M | $758.9M | $743.9M | $1.39B | $1.42B | $1.34B | $1.43B |
| Beneficio Operativo | $303.4M | $353.8M | $441.6M | $486.7M | $280.0M | $533.9M | $798.0M | $1.08B | $1.02B | $1.26B |
| EBITDA | $339.9M | $391.0M | $480.4M | $531.5M | $323.2M | $575.4M | $879.8M | $1.16B | $1.09B | $1.33B |
| Gastos por Intereses | $103.4M | $117.3M | $148.5M | $199.5M | $110.7M | $41.8M | $250.5M | $1.29B | $1.59B | $1.52B |
| Beneficio Antes de Impuestos | $303.4M | $353.8M | $441.6M | $486.7M | $280.0M | $533.9M | $798.0M | $1.08B | $1.02B | $1.26B |
| Impuestos | $96.3M | $98.4M | $81.2M | $104.0M | $59.4M | $125.0M | $153.7M | $216.7M | $248.3M | $257.3M |
| Beneficio Neto | $207.1M | $255.4M | $360.4M | $382.7M | $220.6M | $408.9M | $644.3M | $867.8M | $768.7M | $1.00B |
| BPA | $2.17 | $2.68 | $3.83 | $4.07 | $2.35 | $4.43 | $3.72 | $4.91 | $4.38 | $5.92 |
| BPA Diluido | $2.16 | $2.67 | $3.81 | $4.06 | $2.35 | $4.42 | $3.72 | $4.91 | $4.37 | $5.91 |
| Acciones en Circulación (Diluidas) | $91.9M | $92.4M | $92.2M | $91.9M | $90.2M | $90.2M | $168.9M | $173.4M | $170.2M | $160.6M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $1.13B | $1.13B | $994.3M | $1.12B |
| Beneficio Bruto | $688.6M | $704.2M | $634.4M | $708.5M |
| Beneficio Operativo | $331.9M | $321.0M | $201.3M | $323.5M |
| EBITDA | $350.3M | $375.5M | $250.9M | $332.5M |
| Beneficio Neto | $261.2M | $255.8M | $246.2M | $256.8M |
| BPA | $1.55 | $1.55 | $1.50 | $1.56 |
| BPA Diluido | $1.54 | $1.55 | $1.50 | $1.56 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $220.1M | $256.8M | $329.5M | $257.9M | $263.1M | $461.6M | $839.9M | $1.72B | $2.07B | $2.45B |
| Inversiones a Corto | $2.99B | $2.64B | $2.90B | $2.93B | $3.33B | $4.23B | $7.89B | $8.96B | $6.3M | $12.5M |
| Cuentas por Cobrar | $630.0M | $545.9M | $499.2M | $532.7M | $593.2M | $620.9M | $1.61B | $1.31B | $1.22B | 0 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $3.84B | $3.44B | $3.73B | $3.72B | $4.18B | $5.32B | $10.34B | $11.98B | $3.30B | $2.46B |
| Inmovilizado Material | $137.4M | $130.0M | $124.8M | $270.4M | $226.7M | $204.6M | $430.2M | $429.6M | $407.0M | $432.0M |
| Fondo de Comercio | $538.4M | $538.4M | $538.4M | $538.4M | $538.4M | $538.4M | $2.51B | $2.63B | $2.87B | $2.90B |
| Activos Intangibles | $33.7M | $29.6M | $25.8M | $21.9M | $22.4M | $17.9M | $199.3M | $203.1M | $334.3M | $313.2M |
| Activos Totales | $26.07B | $26.49B | $27.61B | $30.39B | $32.59B | $34.92B | $71.28B | $74.95B | $79.03B | $84.07B |
| Cuentas por Pagar | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deuda a Corto | $949.5M | $643.3M | $581.9M | $1.04B | $995.4M | $674.9M | $1.15B | $2.81B | $2.44B | $3.57B |
| Pasivos Corrientes | $20.48B | $21.88B | $22.67B | $24.52B | $28.52B | $30.93B | $56.69B | $63.59B | $67.20B | $72.33B |
| Deuda a Largo | $3.07B | $1.90B | $2.05B | $2.49B | $700.8M | $573.9M | $6.53B | $1.06B | $919.3M | $750.2M |
| Pasivos Totales | $23.55B | $23.79B | $24.72B | $27.18B | $29.36B | $31.48B | $63.22B | $66.26B | $69.89B | $74.58B |
| Reservas | $1.43B | $1.60B | $1.83B | $2.06B | $2.08B | $2.33B | $2.71B | $3.28B | $3.76B | $4.48B |
| Patrimonio Neto | $2.53B | $2.70B | $2.89B | $3.21B | $3.23B | $3.44B | $8.06B | $8.69B | $9.13B | $9.49B |
| Deuda Total | $4.02B | $2.55B | $2.63B | $3.70B | $1.88B | $1.39B | $7.69B | $3.87B | $3.36B | $4.32B |
| Deuda Neta | $806.7M | -$348.7M | -$593.5M | $519.9M | -$1.71B | -$3.30B | -$1.05B | -$6.81B | $1.28B | $1.85B |
| Capital Circulante | -$16.64B | -$18.44B | -$18.94B | -$20.80B | -$24.34B | -$25.61B | -$46.35B | -$51.61B | -$63.90B | -$69.86B |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $3.06B | $2.45B | $2.86B | $2.72B |
| Activos Totales | $83.19B | $84.07B | $85.58B | $85.95B |
| Pasivos Totales | $73.73B | $74.58B | $76.01B | $76.19B |
| Patrimonio Neto | $9.46B | $9.49B | $9.57B | $9.76B |
| Deuda Total | $3.91B | $4.32B | $5.62B | $4.47B |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $207.1M | $255.4M | $360.4M | $382.7M | $220.6M | $408.9M | $644.3M | $867.8M | $768.7M | $1.00B |
| Amortizaciones | $36.5M | $37.2M | $38.7M | $44.8M | $43.2M | $41.5M | $81.8M | $76.5M | $71.5M | $73.3M |
| Compensación en Acciones | $11.4M | $12.3M | $11.6M | $12.6M | $12.2M | $13.7M | $54.1M | $54.1M | $55.1M | $56.8M |
| Cambio en Capital Circulante | $48.5M | $28.0M | -$48.0M | -$197.4M | -$129.9M | $127.9M | $251.7M | -$229.4M | $183.7M | -$270.7M |
| Flujo de Caja Operativo | $398.1M | $445.0M | $469.4M | $303.9M | $380.5M | $688.6M | $1.34B | $978.6M | $1.40B | $1.06B |
| Inversiones (CapEx) | -$40.7M | -$28.5M | -$33.0M | -$25.7M | -$21.3M | -$16.6M | -$28.8M | -$40.3M | -$35.8M | -$49.6M |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | $459.6M | -$157.6M | -$359.5M | -$24.4M |
| Recompra de Acciones | -$11.2M | -$134.3M | -$12.2M | -$13.0M | -$76.6M | -$4.4M | -$345.8M | -$108.0M | -$65.4M | -$616.4M |
| Dividendos Pagados | -$97.6M | -$102.7M | -$122.8M | -$148.7M | -$152.8M | -$152.7M | -$261.5M | -$294.8M | -$291.2M | -$283.5M |
| Flujo de Caja Libre | $357.4M | $416.4M | $436.4M | $278.1M | $359.3M | $672.0M | $1.31B | $938.3M | $1.37B | $1.01B |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $374.7M | $317.6M | $288.7M | -$130.6M |
| Inversiones (CapEx) | -$12.2M | -$15.8M | -$10.5M | $10.5M |
| Flujo de Caja Libre | $362.5M | $301.8M | $278.3M | -$120.2M |
| Dividendos Pagados | -$70.6M | -$68.7M | -$68.7M | -$69.0M |
| Compensación en Acciones | $12.7M | $14.9M | $14.0M | $17.2M |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +8.0% | +14.0% | +7.6% | -10.6% | -1.7% | +115.3% | +44.8% | +5.7% | +6.1% |
| Crecimiento Beneficio Neto (anual) | | +23.3% | +41.1% | +6.2% | -42.4% | +85.3% | +57.6% | +34.7% | -11.4% | +30.5% |
| Crecimiento BPA (anual) | | +23.5% | +42.9% | +6.3% | -42.3% | +88.5% | -16.0% | +32.0% | -10.8% | +35.2% |
| Cambio en Acciones (anual) | | +0.5% | -0.1% | -0.4% | -1.9% | +0.1% | +87.3% | +2.6% | -1.8% | -5.6% |
| Crecimiento FCF (anual) | | +16.5% | +4.8% | -36.3% | +29.2% | +87.0% | +94.5% | -28.2% | +45.8% | -26.3% |
| Margen Bruto | 85.3% | 86.5% | 85.8% | 83.5% | 80.7% | 101.0% | 80.5% | 63.4% | 56.5% | 60.8% |
| Margen Operativo | 27.9% | 30.2% | 33.0% | 33.8% | 21.7% | 42.2% | 29.3% | 27.5% | 24.4% | 28.5% |
| Margen EBITDA | 31.3% | 33.3% | 35.9% | 36.9% | 25.1% | 45.5% | 32.3% | 29.4% | 26.1% | 30.1% |
| Margen Neto | 19.1% | 21.8% | 26.9% | 26.6% | 17.1% | 32.3% | 23.7% | 22.0% | 18.4% | 22.7% |
| Margen FCF | 32.9% | 35.5% | 32.6% | 19.3% | 27.9% | 53.1% | 48.0% | 23.8% | 32.8% | 22.8% |
| Tasa Impositiva Efectiva | 31.7% | 27.8% | 18.4% | 21.4% | 21.2% | 23.4% | 19.3% | 20.0% | 24.4% | 20.4% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $3.89 | $4.51 | $4.73 | $3.03 | $3.99 | $7.45 | $7.74 | $5.41 | $8.04 | $6.28 |
| Dividendo por Acción | $1.06 | $1.11 | $1.33 | $1.62 | $1.70 | $1.69 | $1.55 | $1.70 | $1.71 | $1.77 |
| Acciones en Circulación (Básicas) | $91.4M | $92.1M | $91.8M | $91.6M | $90.0M | $90.0M | $168.9M | $173.4M | $169.8M | $160.3M |
Qué mirar en empresas de Financial Services
- Efficiency Ratio (≤55%) — Gastos operativos / ingresos. Bancos top por debajo del 55%.
- ROA (≥1%) — Cuánto ganan por cada euro de activos. En banca el ROE engaña por el apalancamiento.
- ROTCE (≥12%) — Rentabilidad sobre Capital Tangible. Descuenta goodwill e intangibles.
- Capital / Activos (proxy Tier 1) (≥8%) — Proxy del ratio de capital. FMP no expone Tier 1 regulatorio directo.
- P/B (1,0-1,5x) — Métrica clásica bancaria. <1x puede ser oportunidad o distress.
- Rentabilidad por dividendo sostenible (≥2%, <8%) — Bancos UE pagan 5-7% sin estrés. >8% es señal de distress.
Rentabilidad
| Rentabilidad sobre capital | 10.66% |
| Rentabilidad sobre capital invertido | 6.00% |
| Rentabilidad sobre activos | 1.19% |
| Margen bruto | 62.51% |
| Margen operativo | 26.91% |
| Margen neto | 23.31% |
Salud financiera
| Deuda / Patrimonio | 0.46 |
| Ratio corriente | 0.33 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 25.01 | 20.96 | 12.87 | 13.11 | 17.94 | 12.60 | 12.73 | 10.34 | 12.61 | 10.63 |
| P/VC | 1.96 | 1.91 | 1.57 | 1.52 | 1.17 | 1.46 | 0.99 | 1.01 | 1.03 | 1.06 |
| P/V | 4.57 | 4.41 | 3.38 | 3.40 | 2.95 | 3.97 | 2.94 | 2.23 | 2.25 | 2.28 |
| Margen Bruto | 85.3% | 86.5% | 85.8% | 83.5% | 80.7% | 101.0% | 80.5% | 63.4% | 56.5% | 60.8% |
| Margen Operativo | 27.9% | 30.2% | 33.0% | 33.8% | 21.7% | 42.2% | 29.3% | 27.5% | 24.4% | 28.5% |
| Margen Neto | 19.1% | 21.8% | 26.9% | 26.6% | 17.1% | 32.3% | 23.7% | 22.0% | 18.4% | 22.7% |